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Is salary protection = permanent health insurance?

  • 12-08-2020 7:52pm
    #1
    Registered Users Posts: 3,813 ✭✭✭


    And if so, is there a tax credit for it?

    TIA


Comments

  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭relax carry on




  • Registered Users, Registered Users 2 Posts: 13,724 ✭✭✭✭Geuze


    And if so, is there a tax credit for it?

    TIA

    Yes.

    There is tax relief at your marginal rate, yes.


  • Registered Users Posts: 3,813 ✭✭✭One More Toy


    Geuze wrote: »
    Yes.

    There is tax relief at your marginal rate, yes.

    Thank you


  • Registered Users Posts: 3,813 ✭✭✭One More Toy


    Out of curiosity, is life assurance relief available in a similar manner?


  • Registered Users, Registered Users 2 Posts: 13,724 ✭✭✭✭Geuze


    Out of curiosity, is life assurance relief available in a similar manner?

    No tax relief on normal MPP / life policy.

    BUT

    My employer offers additional optional life cover, on top of what is in the work pension.

    Work pension = 1x-1.5x death in service

    Optional extra = 2.5x salary if you die in service, and as it is under an AVC arrangement, tax relief is available


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  • Registered Users Posts: 3,813 ✭✭✭One More Toy


    Geuze wrote: »
    No tax relief on normal MPP / life policy.

    BUT

    My employer offers additional optional life cover, on top of what is in the work pension.

    Work pension = 1x-1.5x death in service

    Optional extra = 2.5x salary if you die in service, and as it is under an AVC arrangement, tax relief is available

    The missus signed up to salary protection today, some death benefit applies there too, didn't quiz her about it because its not something you wanna talk about :)


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